The Ultimate Avoiding ATM Fees Quiz

Thankfully, you are not at the total mercy of your bank and ATM machine. These days there are a number of options open to you that enable you to avoid nasty ATM fees. Do you know what they are? Take this quiz on avoiding ATM fees to see if you're an ATM maven.

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Question 1 of 15

When were ATMs first introduced?

in the 1960s

ATMs made their debut in the 1960s.

in the 1970s

in the 1980s

Question 2 of 15

What makes ATMs so convenient?

You can find them on just about every street corner.

They give you freshly minted, unused bills.

There's no waiting in lines and you don't need to find a branch of your bank.

Aside from the fact that you can get cash when you want it, you also don't need to wait in line or find your own bank when you use ATMs.

Question 3 of 15

In 2009, what was the average fee for an ATM transaction at your local branch in the U.S.?

1.8

2.2200000000000002

The fee or surcharge for a single transaction at your local branch was $2.22.

3.1

Question 4 of 15

What is a "foreign" ATM surcharge?

a "strange" surcharge that appears to make no sense to you

a conversion fee for changing foreign currency through your ATM

a fee for when you perform an ATM transaction not through your own bank

The "foreign" ATM surcharge is an additional fee charged to you for performing an ATM transaction not through your own bank.

Question 5 of 15

Do all banks charge ATM fees?

only those in the U.S.

yes

no

No, rest assured, not all banks charge ATM fees. That's why it's important that you shop around for a bank that doesn't charge.

Question 6 of 15

If you're out of town and need the services of an ATM, but you don't have a branch of your bank in the area, what can you do?

Make sure to sue in court if another bank charges you for using their ATM for just one time.

Drive much further than you need to go, in order to locate a branch of your specific bank that has an ATM.

Phone your bank to see if they have a reciprocal arrangement with another bank that doesn't charge.

You can phone your bank and ask about a reciprocal arrangement. You can even ask your bank to waive the foreign fees while you're far from home.

Question 7 of 15

How much will USAA Bank refund for ATM use?

up to $10 a month

up to $15 a month

USAA Bank is prepared to refund up to $15 a month.

up to $20 a month

Question 8 of 15

Under what circumstances might a bank change its fees?

when one bank buys out another

A bank might change its fees if it is bought out by another bank.

when the bank manager feels like it

when the bank is short for funds

Question 9 of 15

Which of these are no-fee ATM networks?

FeeFree and NoPay

Bank of America and PayPal

Moneypass and AllPoint

Both Moneypass and AllPoint are no-fee ATM networks.

Question 10 of 15

Why is it sometimes a good idea to carry cash on you?

so you can put charity into charity boxes

in order to save on ATM fees by not using an ATM too often

Since every ATM transaction elicits a fee, it's a good idea to carry cash so as not to have to use the ATM too often.

because it's fairly lightweight anyway

Question 11 of 15

Is the fee for an ATM transaction dependent on the amount you withdraw?

Yes. In fact, the more you withdraw, the lower the fee as an incentive from the bank.

Yes. The more you withdraw, the higher the fee.

No, it's a flat rate.

It's the same fee, no matter if you withdraw $20 or $200.

Question 12 of 15

Why would you write out a check for more than the purchase price in some stores?

because it covers them for bounced checks

because they charge extra when you use a check

because they're willing to give you back the difference in cash

Some stores offer a kind service. They're willing to take checks for more than the purchase price and refund the difference to you in cash.

Question 13 of 15

In what decade were private ATMs legalized?

in the 1980s

in the 1990s

Private ATMs were made legal in the 1990s.

in the 2000s

Question 14 of 15

Are private ATM fees higher or lower than bank ATM fees?

Private ATMs have higher fees.

That's the downside -- private ATMs, such as at movie theaters, have higher fees than bank ATMs.

Private ATMs have lower fees.

They both have identical fees.

Question 15 of 15

How popular are checks as a form of payment?

Not very. People usually use them when they can't pay by credit card.

Using checks as a form of payment is not that common anymore. Usually people use them as a default when credit cards are not an option in a certain store.